Insider Selling: Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells 658,440 Shares of Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 658,440 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $0.62, for a total transaction of $408,232.80. Following the transaction, the insider directly owned 1,649,281 shares in the company, valued at approximately $1,022,554.22. The trade was a 28.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Group Gp Lp Column III also recently made the following trade(s):

• On Wednesday, February 25th, Group Gp Lp Column III sold 3,511,826 shares of Tenaya Therapeutics stock. The stock was sold at an average price of $0.56, for a total transaction of $1,966,622.56.
• On Wednesday, February 11th, Group Gp Lp Column III sold 4,056,573 shares of Tenaya Therapeutics stock. The shares were sold at an average price of $0.68, for a total transaction of $2,758,469.64.
• On Tuesday, February 10th, Group Gp Lp Column III sold 343,717 shares of Tenaya Therapeutics stock. The shares were sold at an average price of $0.82, for a total transaction of $281,847.94.

Tenaya Therapeutics Trading Up 1.2%

NASDAQ:TNYA traded up $0.01 during midday trading on Thursday, hitting $0.61. 2,393,432 shares of the stock were exchanged, compared to its average volume of 3,798,919. Tenaya Therapeutics, Inc. has a one year low of $0.36 and a one year high of $2.35. The company has a market capitalization of $99.74 million, a price-to-earnings ratio of -0.78 and a beta of 3.18. The business has a 50-day moving average price of $0.73 and a two-hundred day moving average price of $1.14.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TNYA. Scientech Research LLC purchased a new position in Tenaya Therapeutics in the 3rd quarter worth about $27,000. Mirador Capital Partners LP lifted its stake in Tenaya Therapeutics by 38.2% during the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after buying an additional 6,500 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Tenaya Therapeutics in the third quarter worth about $99,000. Persistent Asset Partners Ltd purchased a new position in shares of Tenaya Therapeutics in the third quarter worth approximately $117,000. Finally, Savant Capital LLC purchased a new position in shares of Tenaya Therapeutics in the second quarter worth approximately $52,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TNYA shares. Canaccord Genuity Group cut their price objective on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Morgan Stanley set a $2.00 price target on shares of Tenaya Therapeutics in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Chardan Capital lowered their price objective on shares of Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Finally, HC Wainwright cut their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.50.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical?stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno?associated virus (AAV) platform, the company aims to deliver durable, one?time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.